Action plan on economic diplomacy in pipeline

The government is planning to bring an economic diplomacy action plan that is expected to promote tourism and attract investment in hydropower, apart from helping solve problems of Nepali migrant workers.

The government has also formed a high-level coordination committee led by Minister for Foreign Affairs, apart from setting up an economic diplomacy desk at the ministry, and also in Nepali diplomatic missions in foreign countries.

"Economic diplomacy is one of the important aspects of foreign policy," minister for Foreign Affairs Madhav Prasad Ghimire said, at an interaction here today.

There is a need of crafting new vision and restructuring existing mechanism for its effective enforcement, he said, recommending to set up bilateral chamber of commerce by private sector in foreign countries, add more honourary consulate generals, organise trade and investment fairs and appoint tourism advisors by Nepal Tourism Board (NTB).

Senior economist Prof Dr Biswambhar Pyakurel, on the occasion, stressed the need to lay emphasis on quality service and production apart from boosting foreign trade based on the principle of comparative costing.

Likewise, president of Non Resident Nepalis Association (NRNA) Shesh Ghale called for coordination on concrete agenda for economic diplomacy. "The NRNA has presence in 65 countries across the globe," he said, adding that the association is helping promote Nepal abroad.

"Nepali embassies should be made hospitable and business-friendly as Nepal has been famous for tourism in the world," advised president of Hotel Association of Nepal (HAN) Shyam Kachhapati, on the occasion.

The officiating secretary at the Ministry of Foreign Affairs Shankar Bairagi informed about the policy-level decision and structural changes to boost economic diplomacy.